SYK · 10-K filed 11 Feb 2026 · year to 31 Dec 2025

Stryker

25 named things its latest annual report says its results depend on, each in the company's own words. 17 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Sole-source suppliers

depends onnamed as a risk

In addition, several raw materials, components, finished devices and services are procured from a sole source due to, among other things, the quality considerations, unique intellectual property considerations or constraints associated with regulatory requirements.Risk factors (Item 1A)

Also named by AVAV, AYI, BA, BDX, HII, IONQ, KMB, LHX and 6 more

Partners and platforms

Indirect distributors

depends onnamed as a risk

In many markets we rely on indirect distribution channels to market, distribute and sell our products.Risk factors (Item 1A)

Other companies

Inari Medical, Inc.

named as a risk

In addition to internally developed products, we invest in new products and technologies through acquisitions, including our acquisition of Inari in 2025.Risk factors (Item 1A)

Rejuvenate and ABGII Modular-Neck hip stems

named as a risk

We are currently defendants in a number of product liability matters, including those relating to our Rejuvenate and ABGII Modular-Neck hip stems, LFIT Anatomic CoCr V40 Femoral Heads and the product liability lawsuits and claims relating to Wright Medical Group N.V. (Wright) legacy hip products discussed in Note 7 to our Consolidated Financial Statements.Risk factors (Item 1A)

Competitors

Medtronic plc

competes with

We are one of five leading global competitors in Vascular and Neuro Cranial; the other four being Medtronic, Johnson & Johnson MedTech, Terumo Corporation and Penumbra, Inc.Business (Item 1)

Also named by EW, ISRG

Johnson & Johnson MedTech

competes with

We are one of four leading global competitors for joint replacement and trauma and extremities products and robotics; the other three being Zimmer, Johnson & Johnson MedTech and Smith & Nephew.Business (Item 1)

Also named by ZBH

Smith & Nephew plc

competes with

Also named by ZBH

Zimmer Biomet Holdings, Inc.

competes with

Places

Puerto Rico

operates innamed as a risk

We have principal manufacturing and distribution facilities in the United States in Arizona, California, Florida, Illinois, Indiana, Michigan, Minnesota, New Jersey, Puerto Rico, Tennessee, Texas, Utah and Washington, and outside the United States in China, France, Germany, Ireland, Mexico, the Netherlands, Poland, Switzerland and Turkey.Risk factors (Item 1A)

Also named by AMGN, BMY, BPOP, CCI, COO, GMED, HPE, LLY and 2 more

Hazards

China-Taiwan tensions

named as a risk

Our global operations are subject to risks and costs related to, among other things, changes in coverage or reimbursement levels from third-party payors in the United States and other countries; changes in regulatory requirements (such as the staggered phase-in period for manufacturers to comply with the European Union Medical Device Regulation (MDR) through December 2028); differing local product preferences and product requirements; diminished protection of intellectual property in some countries; tariffs and other trade protection measures, as well as increasing localization and protectionism policies in certain jurisdictions; international trade disputes and import or export requirements; difficulty in staffing and managing foreign operations; introduction of new internal business structures and programs; political and economic instability and uncertainty; current or potential geopolitical conflicts, such as the tensions between China and Taiwan and the wars in Ukraine and the Middle East, and related sanctions and other developments; disruptions of transportation, including port closures, increased border controls or border closures or reduced transportation availability, due to military conflicts, a global pandemic of contagious diseases; increased energy or transportation costs; fluctuations in currency exchange rates and financial markets; and increased security threats to our supply chain.Risk factors (Item 1A)

Also named by CLS, FTNT, IOT, MRVL, ORCL, PANW, ZBRA

Commodities and inputs

Foreign currencies (Euro, Japanese Yen, British Pound, Australian Dollar, Canadian Dollar)

exposed to its price · approximately 24% of our net salesnamed as a risk

We report our financial results in United States Dollars and approximately 24% of our net sales are denominated in foreign currencies, including the Australian Dollar, British Pound, Canadian Dollar, Euro and Japanese Yen.Risk factors (Item 1A)

Also named by ADSK, BR, ENTG, EXPE, MGNI, MRNA, ON, UAL and 1 more

Electronic components

depends onnamed as a risk

For example, in the past we have experienced limited product availability due to an electronic component shortage in certain product lines.Risk factors (Item 1A)

Also named by GGG, HUBB, JOUT, LECO, MSA, NVT, ROK, SNA and 4 more

Per- and polyfluoroalkyl substances (PFAS)

subject tonamed as a risk

For example, governmental authorities in the United States and internationally have or are considering adopting regulations on the use of per- and polyfluoroalkyl substances.Risk factors (Item 1A)

Also named by AMAT, BSX, SOLV

Regulators

U.S. Food and Drug Administration (FDA)

subject tonamed as a risk

The classification, manufacturing, sterilization, licensing, labeling, marketing and sale of our products are subject to extensive and evolving regulations and rigorous regulatory enforcement by the FDA, state governments, European Union and other governmental authorities in the United States and internationally.Risk factors (Item 1A)

Also named by A, ABBV, ABT, AMGN, ARE, ARWR, ATR, AXGN and 112 more

German Federal Central Tax Office (FCTO)

subject tonamed as a risk

For example, we received a final audit report and assessments from the German Federal Central Tax Office ("FCTO") related to audits of tax years 2010 through 2017.Risk factors (Item 1A)

Laws and programs

General Data Protection Regulation (GDPR)

subject to · up to 4% of total company revenuenamed as a risk

Non-compliance with the GDPR may result in monetary penalties of up to 4% of total company revenue.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

U.S. tariffs

subject tonamed as a risk

In addition, recently enacted tariffs by the United States government and retaliatory measures by other governments could adversely impact our supply chain or the availability of certain components.Risk factors (Item 1A)

Also named by A, AAPL, ACHR, ADI, AEHR, AEP, AIOT, AKAM and 170 more

Foreign Corrupt Practices Act (FCPA)

subject tonamed as a risk

For example, in 2013 and 2018 we settled claims brought by the SEC related to the FCPA.Risk factors (Item 1A)

Also named by A, ADBE, ADP, AIR, AJG, ALB, AME, AMZN and 112 more

Health Insurance Portability and Accountability Act (HIPAA)

subject tonamed as a risk

For example, in the United States, privacy and security regulations under the Health Insurance Portability and Accountability Act of 1996, including the expanded requirements under the Health Information Technology for Economic and Clinical Health Act of 2009, establish comprehensive standards with respect to the use and disclosure of protected health information (PHI), by covered entities, in addition to setting standards to protect the confidentiality, integrity and security of PHI.Risk factors (Item 1A)

Also named by ADI, BBY, BR, BWIN, CART, CTSH, DGX, IQV and 8 more

China volume-based procurement

subject tonamed as a risk

For example, China has implemented a volume-based procurement process designed to decrease prices for medical devices and other products.Risk factors (Item 1A)

Also named by BDX, GEHC, MRK, PFE, VTRS, WAT, ZBH

European Union Medical Device Regulation (MDR)

subject tonamed as a risk

We incur significant costs to comply with regulations, including the MDR.Risk factors (Item 1A)

Also named by ESAB

OECD Pillar 2

subject tonamed as a risk

These tax law changes and any additional contemplated tax law changes could impact tax expense in future periods.Risk factors (Item 1A)

Also named by HWM

EU Product Liability Directive and Collective Redress Directive

subject tonamed as a risk

The revised Product Liability Directive and Collective Redress Directive exposes us to additional litigation risks and could result in significant legal expenses.Risk factors (Item 1A)

Section 524B of the Federal Food, Drug, and Cosmetic Act

subject tonamed as a risk

Although we have made investments and expect to continue to make investments seeking to address these threats, including monitoring of networks and systems, use of AI, hiring of experts, employee training, security policies for employees and third-party providers and designing, developing and maintaining processes and procedures to come into compliance with regulatory and legal enactments such as Section 524B of the Federal Food, Drug, and Cosmetic Act in the United States, the techniques used in these attacks change frequently and may be difficult to detect for periods of time and we may face difficulties in anticipating and implementing adequate preventative measures.Risk factors (Item 1A)

Technology

Mako robotic-arm assisted technology

earns from · more than 45 countries

In 2025 we continued to expand the global footprint of Mako SmartRobotics, which is now available in more than 45 countries.Business (Item 1)